California-headquartered construction software company Procore Technologies, Inc. plans to expand in the Middle East and North Africa (MENA) market, with a focus on the UAE and Saudi Arabia.
It will be assisted by Abu Dhabi’s sovereign investment fund Mubadala Investment Company, which owns shares in Procore.
"The construction sector in the Middle East is ripe for disruption as it remains largely undigitised," said Ibrahim Ajami, head of ventures at Mubadala.
A former Uber executive for the Middle East, Mohamed Swidan has been appointed Procore’s Head of MENA. Before Uber, Swidan was SAP’s head of cloud for the region.
"As the COVID-19 pandemic recedes, owners and contractors are under continued pressure to drive innovation while controlling costs and improving productivity," he said.
Procore has over 10,000 customers running in excess of 1 million projects around the world.
Image: Â©GCR, illustration by Denis Carrier